What is a Vendor Statement?

Property Law: 11 October 2023

Author: Lauren Woolley & Ralph Davies - Our People

The Vendor Statement (also referred to as a Section 32) is a legal document separate from the Contract however generally given to the purchaser at the same time.

The Vendor Statement contains prescribed disclosure information about the property that a potential Purchaser can use to determine whether to buy the property. The term ‘Section 32’ is from the correlating section under the Sale of Land Act 1962 (VIC) requiring the disclosure.

Section 32 the following details must be included:

• a Due Diligence Checklist;
• a copy of the Title search;
• a copy of the Plan of Subdivision detailing the boundaries of the lot;
• confirmation of which services are connected to the land (water, sewerage, gas, electricity, telephone);
• a planning statement specifying the name of the responsible government authority, the planning zone and any overlays affecting the land, and the name of the planning scheme;
• certificates from the relevant authorities including, including, the local Council, the local Water Authority, VicRoads, State Revenue Office, and the Owner’s Corporation; and
• details of any building permits issued under the Building Act 1993 (VIC) in the preceding 7 years.

Your representative will make enquiries with the relevant statutory authorities and obtain information certificates which will be attached to the Vendor Statement to aide in disclosure. Importantly the information contained in the Vendor Statement must be up to date and not misleading when it is given to the Purchaser.